The tool reads data from an implanted device, such as defibrillator or a defibrillator with pacing functions, using a computer-mouse sized antenna.

With the CardioSight, doctors can monitor to see whether a heart failure patient's symptoms are stable or deteriorating. The device can download 90 days worth of data and report any of this information over a fax machine within minutes. Medtronic said the CardioSight is particularly helpful for doctors who did not implant the original device.

The CardioSight can also measure fluid levels in a patient's chest cavity and lungs, an indicator of heart disease.

In late February, the company initiated a recall of nearly 2,000 defibrillators saying the devices may fail to analyze heart rhythm, preventing it from resuscitating a patient. The recall of the LifePak 500 automated external defibrillators represented 1 percent of Lifepack 500 defibrillators currently in use worldwide, Medtronic said.

Medtronic shares rose 23 cents to $54.88 in afternoon trading on the New York Stock Exchange.